Ikea Korea slashes prices on bestsellers amid inflation squeeze

Ikea Korea is rolling out its latest round of permanent price cuts as inflation squeezes household budgets, sticking to the low-price philosophy at its core, the furniture giant said Thursday.

The retailer is employing roughly 1.8 billion won ($1.3 million) to cut prices on 161 products by an average of 15 percent, targeting bestsellers in storage, mattresses, lighting and beds, even as inflation strains household budgets. "Providing well-designed, functional and quality home furnishing products